ADVICE FOR LANDLORDS

Below are some very interesting articles extracted from our blog. If you are a landlord/property investor you will find there to be invaluable information. We place over 1500 well screened, quality tenants annually. Filling properties fast and maximising the Landlords return on investment is our focus.

FAQ

What happens if the tenant does not pay and refuses to move out?

The rentals that we don’t manage have a higher % of this scenario. This very seldom happens in our business for the properties that we manage, but if this does happen, legal action will need to be taken and an eviction order brought against the tenant.

We send final demands and a notice to vacate. We continuously communicate with the tenant in this regard and keep the owner informed of the situation. If this fails, the owner ultimately needs to make the decision to take further legal action. We work with rental specialist attorneys who offer Etchells & Young clients a reduced rate, if legal action is required.

What does Rental Management mean?

Rental Management means that Etchells &Young manages the day-to-day aspects of your rental property and takes the “hassle” out of your hands. We deal with all aspects relating to your tenant such as collecting the rental, dealing with maintenance queries, liaising with the body corporate and then, subject to your requirements, paying levies, water & electricity etc on your behalf before paying the balance of the rental over to you. We also manage the financial aspects of your rental and are able to do full reconciliations of your account.

Why should I let Etchells & Young manage my property?

We are professionals who specialize in rentals and rental management and have a long client list of satisfied property owners and a proud track record of delivering excellent personalized service. This is our primary business and we have a dedicated team of Portfolio Managers and sophisticated property management IT systems to professionally manage your rental property. We also know and understand the complex laws and legislation governing this industry and this knowledge, guidance and assistance can make the difference between a very successful property investment or a costly failure with plenty of heartache and frustration for an owner.

Can the lease be immediately cancelled if the tenant does not pay the rent?

No, unfortunately not. As the lease is a legal contract between the landlord and tenant, any breach of that contract must be dealt with in terms of contract law and the CPA. This means that the tenant must be placed in mora (notified and officially placed on terms) and the CPA specifies that the tenant must receive written notice of the breach and then has 20 business days to rectify the breach.

If they rectify the breach by paying the full amount due (as per the notice), the breach has been rectified in terms of the law. If they do not rectify the breach – i.e. full amount as per notice, then only after the full 20 business days’ have lapsed can the lease be cancelled, and the tenant be asked to vacate the premises. Just remember that the tenant can only be legally evicted from the premises via a court order.

Why must I pay for the maintenance?

It is in your best interest to keep your property in a good order. The tenant is responsible for damage they cause and the owner for fair wear and tear items. The owner will also always need to approve any maintenance expenditure in this regard. A well-kept property, which is maintained regularly, attracts better quality tenants who tend to take pride in their home environment and want to look after the property. Seasoned investors will also know that maintenance forms an integral part of your budget and is necessary to protect your income producing asset in the long run.

FAQ

What happens if the tenant does not pay and refuses to move out?

The rentals that we don’t manage have a higher % of this scenario. This very seldom happens in our business for the properties that we manage, but if this does happen, legal action will need to be taken and an eviction order brought against the tenant.

We send final demands and a notice to vacate. We continuously communicate with the tenant in this regard and keep the owner informed of the situation. If this fails, the owner ultimately needs to make the decision to take further legal action. We work with rental specialist attorneys who offer Etchells & Young clients a reduced rate, if legal action is required.

What does Rental Management mean?

Rental Management means that Etchells &Young manages the day-to-day aspects of your rental property and takes the “hassle” out of your hands. We deal with all aspects relating to your tenant such as collecting the rental, dealing with maintenance queries, liaising with the body corporate and then, subject to your requirements, paying levies, water & electricity etc on your behalf before paying the balance of the rental over to you. We also manage the financial aspects of your rental and are able to do full reconciliations of your account.

Why should I let Etchells & Young manage my property?

We are professionals who specialize in rentals and rental management and have a long client list of satisfied property owners and a proud track record of delivering excellent personalized service. This is our primary business and we have a dedicated team of Portfolio Managers and sophisticated property management IT systems to professionally manage your rental property. We also know and understand the complex laws and legislation governing this industry and this knowledge, guidance and assistance can make the difference between a very successful property investment or a costly failure with plenty of heartache and frustration for an owner.

Can the lease be immediately cancelled if the tenant does not pay the rent?

No, unfortunately not. As the lease is a legal contract between the landlord and tenant, any breach of that contract must be dealt with in terms of contract law and the CPA. This means that the tenant must be placed in mora (notified and officially placed on terms) and the CPA specifies that the tenant must receive written notice of the breach and then has 20 business days to rectify the breach.

If they rectify the breach by paying the full amount due (as per the notice), the breach has been rectified in terms of the law. If they do not rectify the breach – i.e. full amount as per notice, then only after the full 20 business days’ have lapsed can the lease be cancelled, and the tenant be asked to vacate the premises. Just remember that the tenant can only be legally evicted from the premises via a court order.

Why must I pay for the maintenance?

It is in your best interest to keep your property in a good order. The tenant is responsible for damage they cause and the owner for fair wear and tear items. The owner will also always need to approve any maintenance expenditure in this regard. A well-kept property, which is maintained regularly, attracts better quality tenants who tend to take pride in their home environment and want to look after the property. Seasoned investors will also know that maintenance forms an integral part of your budget and is necessary to protect your income producing asset in the long run.